{
  "url": "https://openlegislation.uk/oil-and-pipelines-act-1985/schedule-2/paragraph-4",
  "json_url": "https://openlegislation.uk/oil-and-pipelines-act-1985/schedule-2/paragraph-4.json",
  "legislation": "ukpga/1985/62",
  "legislation_title": "Oil and Pipelines Act 1985",
  "legislation_url": "https://openlegislation.uk/oil-and-pipelines-act-1985",
  "path": "schedule/2/paragraph/4",
  "kind": "paragraph",
  "number": "4",
  "heading": null,
  "text": "(1) ) Notwithstanding the repeal of section 15 of the Petroleum and Submarine Pipe-lines Act 1975, it shall be the duty of the Corporation to make a report to the Secretary of State in accordance with that section in respect of the final accounting year of the Corporation.\n(2) Notwithstanding the repeal of section 10 of that Act, it shall be the duty of the Corporation to prepare statements of accounts in accordance with subsections (1)(b) and (2) of that section in respect of the final accounting year of the Corporation, and that section shall continue to apply during the transitional period in relation to those statements and in relation also to the auditing of those statements and of accounts kept in accordance with subsection (1)(a) of that section in respect of that accounting year.\n(3) Without prejudice to the requirements of sub-paragraph (2) above, every statement of accounts prepared by the Corporation under that sub-paragraph shall comply with any requirements which the Secretary of State has with the approval of the Treasury notified in writing to the Corporation relating to the methods and principles according to which the statement is to be prepared.\n(4) If the transfer date is other than a 1st January, the period beginning with the immediately preceding 1st January and ending with the day before the transfer date shall be the final accounting year of the Corporation.\n(5) Any expenses incurred by the Corporation under this paragraph shall be met by the Agency.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "M",
      "label": "M1",
      "text": "1975 c. 74."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1985/62/schedule/2/paragraph/4",
    "retrieved_at": "2026-10-29T09:59:53.226796+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}